August 22, 2026 — 1:44pmA three-bedroom semi that the agent called “the most inexpensive little castle” in South Yarra sold for $1,785,000 in post-auction negotiations on Saturday.The double-storey English-style home, complete with turret, at 17 Coolullah Avenue was one of a block of three sitting in a quiet cul-de-sac off Williams Road. It features a citrus-filled front courtyard, parquetry flooring, arched doorways throughout and shared rear right-of-way access.The property had a price guide of $1.7 million to $1.8 million, and a reserve of $1.8 million.Marshall White Stonnington agent Dean Gilbert said the property had attracted a lot of attention, with more than 100 groups inspecting over the course of the campaign.He said the home had “barely been turned over in its existence” and was affordable for the area thanks to a small land size and strata arrangement.Auctioneer Justin Long opened the auction with a vendor bid of $1.7 million, stressing there was very little stock coming onto the market in spring and encouraging buyers to avoid missing out “only to buy something smaller in a few weeks’ time”.Auctioneer Justin Long calls for bids at 17 Coolullah Avenue, telling potential buyers that spring was unlikely to bring more stock like the double-storey “little castle” home onto the market.Eddie JimAfter a long pause, the first genuine bidder offered $1.71 million, followed by a $10,000 increment from the only other potential buyer, countered by the initial bidder to bring the price to $1.73 million, where it stalled and eventually passed in.After almost an hour of negotiations, the winning bidders bought the home for $1,785,000, which was $15,000 less than the reserve and $55,000 more than it passed in on.Marshall White sales director John Bongiorno said that while the vendors, a multi-generational family, had hoped for a little bit more, “they were happy to meet the market”.The buyers intend to renovate the home, which currently features arched doorways and individual functional rooms, rather than the open-plan living generally preferred in modern luxury homes.Eddie JimThe buyers, a young professional couple, were bidding with support of a father calling in from a Vanuatu holiday. They plan to renovate.The property was one of 598 scheduled to go to auction in Melbourne this week.In Richmond, a two-bedroom Edwardian, directly across from Bicentennial Park, sold for $1,385,000 at auction – $65,000 above its reserve.The home at 20 Parkville Street sits in a row of red-brick terraces looking onto the park. It maintains original exterior features such as tessellated tile paths and stained-glass windows, and has an updated interior featuring high ceilings, open-plan living and new appliances.It had a price guide of $1.2 million to $1.32 million, and a reserve of $1.32 million.Jellis Craig Richmond agent and auctioneer Luke Schickerling said strong bidding opened at $1.2 million, the bottom of the guide, and went up quickly in $10,000 increments before hitting $1.32 million and being declared on the market.From there, three potential buyers continued to trade bids until the home sold to a young couple who, Schickerling said, were new to the Richmond area. The vendors were renovators, who he said were now “onto the next adventure”.He said the property had performed well, and there were more people bidding than a few weeks ago, as the market was starting to warm up for spring – traditionally the peak period for auctions in Melbourne – and fewer properties were coming up for sale than expected.The preserved Edwardian features at the front of the property conceal a modern, spacious interior.Jellis Craig Richmond“We have the lowest stock levels I can recall in recent memory,” Schickerling said.In Brunswick, a warehouse conversion apartment – in the same building known to be the home of Nina Proudman in the TV series Offspring – sold for $1,126,000 at auction, $126,000 above its $1 million reserve.The light-filled two-bedroom apartment at 210/1-3 Dods Street, complete with quirky egg-yolk yellow central bathroom, expansive open-plan living, dining and storage areas, and a north-facing view to Brunswick’s churches and rooftops, had a price guide of $950,000 to $1 million.Nelson Alexander Brunswick agent Janine Ballantyne said auctioneer James Pilliner opened bidding at $970,000, before four bidders pushed it past the $1 million mark in $10,000 increments.From there, the bidders winnowed down to three to take the price up to $1.1 million, and then down to two as the increments grew smaller and the auction came to a close. The buyer was a professional moving into the area.The egg-yolk yellow central bathroom, askew in its own box within the apartment’s expansive interior, was just one characterful element of the warehouse conversion.Nelson Alexander BrunswickThe vendor had decided to upsize within Brunswick after 21 years.Ballantyne said the result was indicative of the market.“[It’s] price-sensitive, but if people can see value, they will engage,” she said.“It doesn’t feel as though we are going to have the usual levels of spring stock, whether that puts pressure on prices or not remains to be seen.”More:AuctionsProperty marketProperty pricesMelbourne house pricesProperty investmentProperty downsizingFirst home buyersProperty upsizingHousing affordabilityRichmondBrunswickSouth YarraProperty listingsFrom our partners